BB0024/CA0025 Introduction to International Marketing

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	IV
SUBJECT CODE & NAME	BB0024/CA0025 Introduction to International Marketing
BK ID	B0103
CREDIT & MARKS	4 CREDITS, 60 MARKS

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question.1. Explain the various Business Environments in detail and enumerate the approaches to International Marketing.

Answer: International business comprises all commercial transactions (private and governmental, sales, investments, logistics, and transportation) that take place between two or more regions, countries and nations beyond their political boundaries. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons. The term "international business" refers to all those business activities which involve cross-border transactions of goods, services, resources between two or more nations. Transactions of economic resources include capital, skills, people etc.

Question.2. Briefly explain the various Bases of economic Wealth.

Answer:The Economy of India is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP). The country is classified as a newly industrialised country, one of the G-20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP

Question.3. Explain the International Marketing Research Process in detail.

Answer: Some of the major steps involved in marketing research process are as follows: 1. Identification and Defining the Problem 2. Statement of Research Objectives 3. Planning the Research Design or Designing the Research Study 4. Planning the Sample 5.Data Collection 6.Data Processing and Analysis 7.Formulating Conclusion

Question.4. Write a short note on

a. International Marketing

Answer:International marketing is simply the application of marketing principles to more than one country. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term. For the purposes of this lesson on international marketing and those that follow it, international marketing and global marketing are interchangeable.

b. International Product Life Cycle

Answer: The product life-cycle theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher-Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and laborassociated with that product come from the area in which it was invented. After the product becomes adopted and used in the world markets, production gradually moves away from the point of origin. In some situations, the

Question.5. Explain in detail about Hierarchical Levels of Business Plan Development.

Answer: Strategy can be formulated on three different levels:

·         corporate level

·         business unit level

·         functional or departmental level.

Question.6. What are the various Documents used in Foreign Trade?

Answer: Some of the most important documents used in import trade are as follows: (i) Indent (ii) Bill of Lading (iii) Bill of Entry (iv) Letter of Credit (v) Bill of Sight (vi) Dock Challan (vii) Dock Warrant.

There are many documents used in import trade which have already been discussed in the Import Procedure.

To name a few, the most important documents

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